Edinburgh secures record number of overseas investors

Foreign companies are investing in Edinburgh in record numbers. New figures show that 11 overseas firms announced their arrival in the city in July – the highest monthly figure since they were first recorded in May 2008.

The Edinburgh Investment Tracker, produced by the city council, shows that companies from the United States, Germany, South Africa and the Netherlands were among those investing in the capital. They created about 200 jobs.

Cllr Frank Ross (below), economy convener, said: “The average number of foreign direct investments each month is normally around two or three so this news, which will bring more jobs to the city, is very welcome.

“Edinburgh is the most prosperous city in the UK outside London and there is tremendous confidence in investing here at the moment.

“Billions of pounds worth of investment is being ploughed into 12 key development sites, which include Edinburgh St James, New Waverley and The Haymarket, therefore this latest success is not surprising. The arrival of the trams and Edinburgh Airport’s expansion, as well as the many new flight routes introduced in 2014/15 are also contributing to Edinburgh’s prosperity.”

His statement, however, is in stark contrast to his comments at a meeting in the City Chambers on 1 July to consider the St James’ redevelopment.

He told fellow councillors that day: “There is a hint from other developers that Edinburgh is seen as a very difficult place to do business and invest in. Further delay to this iconic project is only going to enhance and reinforce that message that Edinburgh doesn’t want investment.”

The companies coming to Edinburgh this month vary from high-tech life sciences and software companies to boutique restaurants and retailers.

Today Cllr Ross said: “This is a healthy mix, which is really important to ensure we continue to have a sustained and varied economy.”

Foreign direct investments in July:

·Brocade (HQ San Jose, California, USA): Data and storage networking products provider Brocade has opened an office on Canning Street.

·BTIG (HQ New York, New York, USA): Trader and investment bank BTIG has opened an office in Edinburgh.